CIT v. Nirav Modi

390 ITR 292High Court2017#275 most cited

What is CIT v. Nirav Modi authority for?

The Principal Commissioner of Income Tax (PCIT) cannot invoke revisionary powers under Section 263 merely on the ground of "inadequate enquiry" by the Assessing Officer (AO) if the AO has conducted an enquiry, examined evidence, and formed a possible view. For Section 263 to apply, the PCIT must demonstrate that the assessment order is both erroneous (contrary to law) and prejudicial to the revenue.

286

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2016 to 2026.

Also referred to as

Nirav Modi · CIT v Nirav Modi · Section 263 · revisionary power · inadequate enquiry · erroneous and prejudicial · assessment order erroneous · twin conditions · Assessing Officer enquiry · Principal Commissioner

Also reported as

71 Taxmann.com 272241 Taxmann 255138 DTR 81

Sections most often in play

Section 263Section 143(3)Section 142(1)Section 144BSection 147Section 148Section 151Section 80G

Issues it is cited on

inadequate enquirylack of enquirysection 263(1)malabar industrialassessment order erroneousrevision u/s 263erroneous and prejudicialrevision under section 263section 54fsection 263section 26section 54

Judgments citing CIT v. Nirav Modi

Deepak Switch Gears Pvt. Ltd., Kolkata vs. PCIT, Asansol

In the result, the appeal of the assessee stands allowed

ITA 809/KOL/2023[2012-13]Status: DisposedITAT Kolkata07 May 2024AY 2012-13

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A. No.809/Kol/2023 Assessment Year: 2012-13 Deepak Switch Gears Pvt. Ltd….…......................…...……………....Appellant 48/6, Suman Villa, 2Nd Floor, 155, Jessore Road, Kolkata-700055. [Pan: Aabcd1131H] Vs. Pcit, Asansol….....….........................................................…..…..... Respondent Appearances By: Shri A. K. Tibrewal, Ar, Appeared On Behalf Of The Appellant. Shri Abhijit Kundu, Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : April 08, 2024 Date Of Pronouncing The Order : May 07, 2024 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal Has Been Preferred By The Assessee Against The Revision Order Dated 30.12.2022 Of The Principal Commissioner Of Income Tax, Kolkata [Hereinafter Referred To As ‘Pr. Cit’] Passed U/S 263 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). The Assessee In This Appeal Has Agitated Against The Action Of The Pr. Cit In Exercising His Revision Jurisdiction U/S 263 Of The Act & Thereby Directing The Assessing Officer To Frame The Assessment Afresh. 2. The Registry Has Pointed Out That The Appeal Is Time-Barred By 158 Days. A Separate Application Of Condonation Of Delay Has Been Filed, Wherein, It Has Been Pleaded That After Receipt Of The Impugned Order Of The Pr. Cit, The Assessee, Through Its Director, Shri Deep Kishan Saraf, Immediately Approached One Shri Pawan Kumar Agarwal, Chartered

Section 253Section 263Section 5

…आयकर अपील"य अ"धकरण, कोलकाता पीठ ‘बी’, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH KOLKATA "ी संजय गग", "या"यक सद"य एवं "ी मनीष बोरड, लेखा सद"य के सम" Before Shri Sanjay Garg, Judicial Member and Dr. Manish Borad, Accountant Member I.T.A. No.809/Kol/2023 Assessment Year: 2012-13 Deepak Switch Gears Pvt. Ltd….…......................…...……………....Appellant 48/6, Suman Villa, 2nd Floor, 155, Jessore Road, Kolkata-700055. [PAN: AABCD1131H] vs. PCIT, Asansol….....….........................................................…..…..... Respondent Appearances by: Shri A. K. Tibrewal, AR, appeared on behalf of the…

Karamveer Electronics Limited, Meerut vs. Pr, CIT, Ghaziabad

In the result, the appeal of the assessee in ITA No

ITA 1223/DEL/2023[2018-19]Status: DisposedITAT Delhi05 Feb 2024AY 2018-19

Bench: Shri Saktijit Dey & Shri N.K. Billaiya

For Appellant: Shri Devashish Bhadauria, AdvFor Respondent: Shri Subhra Jyoti Chakraborty, CIT-DR
Section 142(1)Section 143(3)Section 263Section 263(1)Section 56(2)

…of revision can be exercised only where no enquiry, as required under the law, is done. It is not open to enquire in case of inadequate inquiry. Our view is fortified by the decision of Hon'ble High Court of Bombay in the case of CIT vs. Nirav Modi, [2016] 71 Taxmann.com 272 (Bombay)". 19. The Hon'ble High Court of Gujarat in the case of CIT vs. Nirma Chemical Works Ltd. 309 ITR 67 has observed as under: “if assessment order were to incorporate the reasons for upholding the claim made by an assessee, the result would be an epitome and not an assessment order. In this case, during the assessment proceedings…

National Udyog, Hisar vs. Pr CIT, Hisar

In the result, the appeal of the assessee in ITA No

ITA 1272/DEL/2021[2015-16]Status: DisposedITAT Delhi31 Jan 2024AY 2015-16

Bench: Shri Saktijit Dey & Shri N.K. Billaiya

For Appellant: Shri Suraj Bhan Nain, AdvFor Respondent: Shri Subhra Jyoti Chakraborty, CIT-DR
Section 143(3)Section 263Section 263(1)

…revision can be exercised only where no enquiry, as required under the law, is done. It is not open to enquire in case of inadequate inquiry. Our view is fortified by the 12 decision of Hon'ble High Court of Bombay in the case of CIT vs. Nirav Modi, [2016] 71 Taxmann.com 272 (Bombay)". 18. The Hon'ble High Court of Gujarat in the case of CIT vs. Nirma Chemical Works Ltd. 309 ITR 67 has observed as under: “if assessment order were to incorporate the reasons for upholding the claim made by an assessee, the result would be an epitome and not an assessment order. In this case, during the assessment proceedings…

Simbhaoli Power Pvt Ltd, New Delhi vs. Pr.CIT Central, Kanpur

In the result, the appeals of the assessee in ITA Nos

ITA 505/DEL/2021[2015-16]Status: DisposedITAT Delhi05 Jan 2024AY 2015-16

Bench: Shri N.K. Billaiya & Shri Yogesh Kumar U.S

For Appellant: Shri Anshul Kumar, CAFor Respondent: Shri Sanjay Gupta, CIT- DR
Section 142(1)Section 143(3)Section 263

…revision can be exercised only where no enquiry, as required under the law, is done. It is not open to enquire in case of inadequate inquiry. Our view is fortified by the 12 decision of Hon'ble High Court of Bombay in the case of CIT vs. Nirav Modi, [2016] 71 Taxmann.com 272 (Bombay)". 15. The Hon'ble High Court of Gujarat in the case of CIT vs. Nirma Chemical Works Ltd. 309 ITR 67 has observed as under: “if assessment order were to incorporate the reasons for upholding the claim made by an assessee, the result would be an epitome and not an assessment order. In this case, during the assessment proceedings…

Simbhaoli Power Pvt Ltd, New Delhi vs. Pr. CIT Ghaziabad, New Delhi

ITA 4620/DEL/2019[2014-15]Status: DisposedITAT Delhi05 Jan 2024AY 2014-15

Bench: Shri N.K. Billaiya & Shri Yogesh Kumar U.S

For Appellant: Shri Anshul Kumar, CAFor Respondent: Shri Sanjay Gupta, CIT- DR
Section 142(1)Section 143(3)Section 263Section 40A(2)(b)Section 69C

…of revision can be exercised only where no enquiry, as required under the law, is done. It is not open to enquire in case of inadequate inquiry. Our view is fortified by the 12 decision of Hon'ble High Court of Bombay in the case of CIT vs. Nirav Modi, [2016] 71 Taxmann.com 272 (Bombay)". 15. The Hon'ble High Court of Gujarat in the case of CIT vs. Nirma Chemical Works Ltd. 309 ITR 67 has observed as under: "if assessment order were to incorporate the reasons for upholding the claim made by an assessee, the result would be an epitome and not an assessment order. In this case, during the assessment proceedings f…

Shri Leelahar Palasiyawala, Indore vs. The ITO 4(4), Indore

Appeal is dismissed

ITA 346/IND/2022[2015-16]Status: DisposedITAT Indore19 Dec 2023AY 2015-16

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year: 2015-16 Leeladhar Palasiyawala, Pr.Cit-1, Village Kalariya, Post Indore बनाम/ Kalariya, Vs. Indore. (Assessee / Appellant) (Revenue / Respondent) Pan: Bqdppo511K Assessee By Shri Ashish Goyal, Ca & Shri N. D. Patwa, Adv. Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 11.10.2023 Date Of Pronouncement 19.12.2023

Section 143(3)Section 263Section 54B

…आयकर अपीलीय अिधकरण, इंदौर "ायपीठ, इंदौर IN THE INCOME TAX APPELLATE TRIBUNAL INDORE BENCH, INDORE BEFORE SHRI VIJAY PAL RAO, JUDICIAL MEMBER AND SHRI B.M. BIYANI, ACCOUNTANT MEMBER Assessment Year: 2015-16 Leeladhar Palasiyawala, Pr.CIT-1, Village Kalariya, Post Indore बनाम/ Kalariya, Vs. Indore. (Assessee / Appellant) (Revenue / Respondent) PAN: BQDPPO511K Assessee by Shri Ashish Goyal, CA and Shri N. D. Patwa, Adv. Revenue by Shri Ashish Porwal, Sr. DR Date of Hearing 11.10.2023 Date of Pronouncement 19.12.2023 आदेश / O R D E R Per B.M. Biyani, A.M.: Feeling aggrieved by revision-order dated 17.03.2021 passe…

Bhagwati Abhilasha Conventure, Mumbai vs. Circle 26(1), Mumbai

In the result, appeal of the assessee is dismissed

ITA 1698/MUM/2023[2018-2019]Status: DisposedITAT Mumbai18 Dec 2023AY 2018-2019

Bench: Shri Kuldip Singh & Shri Gagan Goyalbhagwati Abhilsha Conventure A/30, Patil Bhuvan, N.S.B. Road, Mulund (West), Mumbai-400080 Pan: Aahfb9198D ...... Appellant Vs. Pcit, Mumbai-41, Circle 41(2)(1) R. No. 541, Kautilya Bhavan, C-41 To C-43, G Block, Bandra Kurla Complex, Bandra East, Mumbai-400051 ..... Respondent

For Appellant: Shri M. Subramanian, Ld. ARFor Respondent: Shri Ashok Kumar Ambastha, Ld. DR
Section 142(1)Section 143(3)Section 22Section 23(5)Section 263

…ltantly taxability of deemed rent u/s. 22 r.w.s. 23 of the Act. On this matter assessee relied upon following judicial pronouncements alongwith its submissions as under: i) Malabar Industrial Co. Ltd. V. CIT (2000) 243 ITR 83(SC) ii) CIT V. Nirav Modi (2017) 390 ITR 292(Bom) iii) Moil Ltd. V. CIT (2017) 396 ITR 244 (Bom.) iv) CIT V. Gabriel India Ltd. (1993) 203 ITR 108 (Bom) In all the above cases, it has been held that the pre-requisite for the exercise of jurisdiction u/s. 263, the order of the A.O. should be erroneous in so far as it is prejudicial to the interest of the revenue. It is also held that once th…

Kaustubh Gupta, Meerut vs. Pr. CIT, Ghaziabad

In the result, appeal is allowed

ITA 1125/DEL/2022[2017-18]Status: DisposedITAT Delhi07 Dec 2023AY 2017-18

Bench: Shri Saktijit Dey, Vice- & Shri M. Balaganeshassessment Year: 2017-18 Kaustubh Gupta, 412/3, Versus Pr. C.I.T., Mangal Pandey Nagar, Ghaziabad. Meerut. Pan: Aabcs3651B (Appellant) (Respondent) Assessee By: Sh. Sanjeev Sapra, C.A. Revenue By: Sh. Waseem Arshad, Cit/Dr Date Of Hearing : 28.11.2023 Date Of Pronouncement: 07.12.2023 Order Per Saktijit Dey, Vice-

For Appellant: Sh. Sanjeev Sapra, C.AFor Respondent: Sh. Waseem Arshad, CIT/DR
Section 142(1)Section 143(3)Section 263

…, learned counsel relied upon the following decisions : (i). CIT vs. Anil Kumar Sharma, 335 ITR 83 (Del). (ii). CIT vs. Sunbeam Auto Ltd., 332 ITR 167 (Del.) (iii). Virtusa Consulting Services Pvt. Ltd. vs. DCIT, 442 ITR 385 (Mad). (iv). CIT vs. Neerav Modi, 390 ITR 292 (Bom) (v). ITO vs. DG Housing Projects Ltd., 343 ITR 329 (Del) (vi) Eicher Motor Ltd. vs. CIT, 125 taxmann.com 432 (ITAT Delhi) (vii). CIT vs. Honda Siel Power Products Ltd., 333 ITR 547 (Del). (viii). Meerut Roller flour Mills Pvt. Ltd. vs. CIT, 420 ITR 216 (All) (ix). CIT vs. Smt. D. Valliammal, 230 ITR 695 (Mad.) (x). CIT vs. Gabriel India Ltd…

Rajkumar Goyal, Indore vs. The Pr. CIT-2, Indore

In the result, appeal of the assesse is dismissed

ITA 438/IND/2019[2014-15]Status: DisposedITAT Indore20 Nov 2023AY 2014-15

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniraj Kumar Goyal Pr. Cit-2 42, Narmda Marg Barwaha Indore Vs. Khargone (Appellant / Assessee) (Revenue) Pan: Ackpg 1896N Assessee By Shri Ram Gilda, Ar Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 27.09.2023 Date Of Pronouncement 20.11.2023

Section 133ASection 139(1)Section 143(3)Section 263

…ions: 1.CIT vs. Max India Ltd. 295 ITR 282 2. Ranka Jewellers vs. Addl. CIT 395 ITR 148 (Bom) 3. Attar Singh Gurmukh singh vs. ITO 191 ITR 667 (SC) 4. ITO vs. Jitendra Kumar Mandlecha 23 ITJ 644 5. Malabar Industrial Co. Ltd. 243 ITR 83 6. CIT vs. Nirav Modi 390 ITR 292 (Bombay HC) 7. CIT vs. Gabriel India Ltd. 203 ITR 108 (Bombay HC) 8. Jeevanlal Ltd. vs. aCiT 208 ITR 407 5. On the other hand, Ld. DR has submitted that the assessee has not disputed the issue of outstanding CST to be disallowed u/s 43B of the Act. Therefore, the order of the AO is erroneous being contrary to the provisions of the Act. He has fu…

Raghuvir Singh, Delhi vs. Pr. CIT, Faridabad

ITA 1132/DEL/2022[2017-18]Status: DisposedITAT Delhi10 Nov 2023AY 2017-18

Bench: Shri N.K. Billaiya & Ms Astha Chandra

For Appellant: Dr. Rakesh Gupta, AdvFor Respondent: Shri P.N. Barnwal, CIT-DR
Section 11Section 142(1)Section 143(2)Section 263Section 54B

…revision can be exercised only where no enquiry, as required under the law, is done. It is not open to enquire in case of inadequate inquiry. Our view is fortified by the 12 decision of Hon'ble High Court of Bombay in the case of CIT vs. Nirav Modi, [2016] 71 Taxmann.com 272 (Bombay)". 25. The Hon'ble High Court of Gujarat in the case of CIT vs. Nirma Chemical Works Ltd. 309 ITR 67 has observed as under: “if assessment order were to incorporate the reasons for upholding the claim made by an assessee, the result would be an epitome and not an assessment order. In this case, during the assessment proceedings…

Hitesh Golchha, Raipur vs. Assistant Commissioner of Income Tax, Central Circle-1, Raipur

Appeals of the assessee are partly allowed, in terms of our observations herein above

ITA 104/RPR/2022[2017-18]Status: DisposedITAT Raipur02 Nov 2023AY 2017-18

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं./Ita Nos.101, 102, 103 & 104/Rpr/2022 (िनधा"रण वष" /Assessment Years: 2014-15, 2015-16, 2016-17 & 2017-18) V. Hitesh Golchha Acit, Prop. Of Mouli Investment, Central Circle-1 Jeevan Ganga, Near Dani Bada, Raipur Budha Para, Raipur – 492 001 Chhattisgarh [Pan: Agjpg 7698 F] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri B. Subramanyam, C.A. ""यथ" क" ओर से /Respondent By : Shri S. K. Meena, Cit-D.R. सुनवाई क" तार"ख/Date Of Hearing : 13.09.2023 घोषणा क" तार"ख /Date Of Pronouncement : 02.11.2023

For Appellant: Shri B. Subramanyam, C.AFor Respondent: Shri S. K. Meena, CIT-D.R
Section 153ASection 263Section 43C

…ollowing judicial pronouncements in support of his case: A. GRASIM INDUSTRIES LTD. (Successor to Aditya Birla Nuvo Ltd.) vs. PRINCIPAL COMMISSIONER OF INCOME TAX (2021) 62 CCH 0148 MumTrib Gabriel India Ltd reported in 203 ITR 108 (Bom) Nirav Modi reported in 390 ITR 292 (Bom). (refer page no, 240 to 251 of paper book) It is also pertinent to note that the Special Leave Petition (SLP) preferred by the Revenue before the Hon'ble Supreme Court against the judgement of Nirav Modi was dismissed in 77 taxmann.com 15 (SC). AO had addressed a letter to The Deputy Director, ITRA objecting to the audit objection raised by…

Hitesh Golchha, Raipur vs. Assistant Commissioner of Income Tax, Central Circle-1, Raipur

Appeals of the assessee are partly allowed, in terms of our observations herein above

ITA 103/RPR/2022[2016-17]Status: DisposedITAT Raipur02 Nov 2023AY 2016-17

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं./Ita Nos.101, 102, 103 & 104/Rpr/2022 (िनधा"रण वष" /Assessment Years: 2014-15, 2015-16, 2016-17 & 2017-18) V. Hitesh Golchha Acit, Prop. Of Mouli Investment, Central Circle-1 Jeevan Ganga, Near Dani Bada, Raipur Budha Para, Raipur – 492 001 Chhattisgarh [Pan: Agjpg 7698 F] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri B. Subramanyam, C.A. ""यथ" क" ओर से /Respondent By : Shri S. K. Meena, Cit-D.R. सुनवाई क" तार"ख/Date Of Hearing : 13.09.2023 घोषणा क" तार"ख /Date Of Pronouncement : 02.11.2023

For Appellant: Shri B. Subramanyam, C.AFor Respondent: Shri S. K. Meena, CIT-D.R
Section 153ASection 263Section 43C

…ollowing judicial pronouncements in support of his case: A. GRASIM INDUSTRIES LTD. (Successor to Aditya Birla Nuvo Ltd.) vs. PRINCIPAL COMMISSIONER OF INCOME TAX (2021) 62 CCH 0148 MumTrib Gabriel India Ltd reported in 203 ITR 108 (Bom) Nirav Modi reported in 390 ITR 292 (Bom). (refer page no, 240 to 251 of paper book) It is also pertinent to note that the Special Leave Petition (SLP) preferred by the Revenue before the Hon'ble Supreme Court against the judgement of Nirav Modi was dismissed in 77 taxmann.com 15 (SC). AO had addressed a letter to The Deputy Director, ITRA objecting to the audit objection raised by…

Hitesh Golchha, Raipur vs. Assistant Commissioner of Income Tax, Central Circle-1, Raipur

Appeals of the assessee are partly allowed, in terms of our observations herein above

ITA 102/RPR/2022[2015-16]Status: DisposedITAT Raipur02 Nov 2023AY 2015-16

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं./Ita Nos.101, 102, 103 & 104/Rpr/2022 (िनधा"रण वष" /Assessment Years: 2014-15, 2015-16, 2016-17 & 2017-18) V. Hitesh Golchha Acit, Prop. Of Mouli Investment, Central Circle-1 Jeevan Ganga, Near Dani Bada, Raipur Budha Para, Raipur – 492 001 Chhattisgarh [Pan: Agjpg 7698 F] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri B. Subramanyam, C.A. ""यथ" क" ओर से /Respondent By : Shri S. K. Meena, Cit-D.R. सुनवाई क" तार"ख/Date Of Hearing : 13.09.2023 घोषणा क" तार"ख /Date Of Pronouncement : 02.11.2023

For Appellant: Shri B. Subramanyam, C.AFor Respondent: Shri S. K. Meena, CIT-D.R
Section 153ASection 263Section 43C

…ollowing judicial pronouncements in support of his case: A. GRASIM INDUSTRIES LTD. (Successor to Aditya Birla Nuvo Ltd.) vs. PRINCIPAL COMMISSIONER OF INCOME TAX (2021) 62 CCH 0148 MumTrib Gabriel India Ltd reported in 203 ITR 108 (Bom) Nirav Modi reported in 390 ITR 292 (Bom). (refer page no, 240 to 251 of paper book) It is also pertinent to note that the Special Leave Petition (SLP) preferred by the Revenue before the Hon'ble Supreme Court against the judgement of Nirav Modi was dismissed in 77 taxmann.com 15 (SC). AO had addressed a letter to The Deputy Director, ITRA objecting to the audit objection raised by…

Hitesh Golchha, Raipur vs. Assistant Commissioner of Income Tax, Circle-1, Raipur

Appeals of the assessee are partly allowed, in terms of our observations herein above

ITA 101/RPR/2022[2014-15]Status: DisposedITAT Raipur02 Nov 2023AY 2014-15

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं./Ita Nos.101, 102, 103 & 104/Rpr/2022 (िनधा"रण वष" /Assessment Years: 2014-15, 2015-16, 2016-17 & 2017-18) V. Hitesh Golchha Acit, Prop. Of Mouli Investment, Central Circle-1 Jeevan Ganga, Near Dani Bada, Raipur Budha Para, Raipur – 492 001 Chhattisgarh [Pan: Agjpg 7698 F] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri B. Subramanyam, C.A. ""यथ" क" ओर से /Respondent By : Shri S. K. Meena, Cit-D.R. सुनवाई क" तार"ख/Date Of Hearing : 13.09.2023 घोषणा क" तार"ख /Date Of Pronouncement : 02.11.2023

For Appellant: Shri B. Subramanyam, C.AFor Respondent: Shri S. K. Meena, CIT-D.R
Section 153ASection 263Section 43C

…ollowing judicial pronouncements in support of his case: A. GRASIM INDUSTRIES LTD. (Successor to Aditya Birla Nuvo Ltd.) vs. PRINCIPAL COMMISSIONER OF INCOME TAX (2021) 62 CCH 0148 MumTrib Gabriel India Ltd reported in 203 ITR 108 (Bom) Nirav Modi reported in 390 ITR 292 (Bom). (refer page no, 240 to 251 of paper book) It is also pertinent to note that the Special Leave Petition (SLP) preferred by the Revenue before the Hon'ble Supreme Court against the judgement of Nirav Modi was dismissed in 77 taxmann.com 15 (SC). AO had addressed a letter to The Deputy Director, ITRA objecting to the audit objection raised by…

Bhushan Kumar Gupta, Haryana vs. Pr, CIT, Rohtak

In the result, appeal of assessee is allowed

ITA 1081/DEL/2022[2017-18]Status: DisposedITAT Delhi06 Oct 2023AY 2017-18

Bench: Sh. G. S. Pannu & Shri Chandra Mohan Gargbhushan Kumar Gupta Vs. Pr. Cit House No.130, Sector-11, Rohtak Panipat, Haryana -132 103 Pan No. Aatpg 2846 D (Appellant) (Respondent) Assessee By Shri Ruchesh Sinha, Adv. Revenue By Shri Zafarul Haque Tanweer, Cit-D.R. Date Of Hearing: 03.10.2023 Date Of Pronouncement: 06.10.2023

Section 115BSection 263Section 68Section 69

…only where no enquiry, as required under the law, is done. It is not open to enquire in case of inadequate inquiry. Our view is fortified by the Bhushan Kumar Gupta vs. PCIT 9 decision of Hon'ble High Court of Bombay in the case of CIT vs. Nirav Modi, [2016] 71 Taxmann.com 272 (Bombay). 17. The Hon'ble High Court of Gujarat in the case of CIT vs. Nirma Chemical Works Ltd. 309 ITR 67 has observed as under: “if assessment order were to incorporate the reasons for upholding the claim made by an assessee, the result would be an epitome and not an assessment order. In this case, during the assessment proceedings for…

Rama Shanker Khemka, New Delhi vs. Pr.CIT Delhi-1, New Delhi

In the result the appeal of the assessee in ITA No

ITA 1785/DEL/2023[2021-22]Status: DisposedITAT Delhi27 Sept 2023AY 2021-22

Bench: Shri N.K. Billaiya & Ms Astha Chandra

For Appellant: Shri Gautam Jain, AdvFor Respondent: Shri P.N. Barnwal, CIT- DR
Section 132Section 143(3)Section 263

…revision can be exercised only where no enquiry, as required under the law, is done. It is not open to enquire in case of inadequate inquiry. Our view is fortified by the 12 decision of Hon'ble High Court of Bombay in the case of CIT vs. Nirav Modi, [2016] 71 Taxmann.com 272 (Bombay)". 17. The Hon'ble High Court of Gujarat in the case of CIT vs. Nirma Chemical Works Ltd. 309 ITR 67 has observed as under: “if assessment order were to incorporate the reasons for upholding the claim made by an assessee, the result would be an epitome and not an assessment order. In this case, during the assessment proceedings…

Tirath Dass (Prop M/S Fancy Jewelers ), Haryana vs. Pr, CIT, Rohtak

In the result, the appeal of the assessee in ITA No

ITA 825/DEL/2022[2017-18]Status: DisposedITAT Delhi11 Sept 2023AY 2017-18

Bench: Shri Shamim Yahya & Ms. Astha Chandraasstt. Year 2017-18 Tirath Dass Vs. Principal (Prop M/S. Fancy Jewellers) Commissioner Of Fancy Jewellers, Income Tax, Sarafa Bazar, Rohtak. Karnal 132001. Haryana India (Appellant) (Respondent) Assessee By: Shri Ajay Wadhwa, Advocate Department By: Ms. Sapna Bhatia,Cit-Dr Date Of Hearing: 14.08.2023 Date Of 11.09.2023 Pronouncement:

For Appellant: Shri Ajay Wadhwa, AdvocateFor Respondent: Ms. Sapna Bhatia,CIT-DR
Section 115BSection 133ASection 143(3)Section 263Section 68

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “H”: NEW DELHI BEFORE SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER AND MS. ASTHA CHANDRA, JUDICIAL MEMBER Asstt. Year 2017-18 Tirath Dass Vs. Principal (Prop M/s. Fancy Jewellers) Commissioner of Fancy Jewellers, Income Tax, Sarafa Bazar, Rohtak. Karnal 132001. Haryana India (Appellant) (Respondent) Assessee by: Shri Ajay Wadhwa, Advocate Department by: Ms. Sapna Bhatia,CIT-DR Date of Hearing: 14.08.2023 Date of 11.09.2023 pronouncement: O R D E R PER ASTHA CHANDRA, JM The appeal filed by the assessee is directed against the order dated 09.03.2022 passed by the Ld. Principal…

Jai Salasar Balaji Industries(P)Ltd, Kolkata vs. ACIT, Kolkata

In the result, the appeal filed by the assessee is allowed as per the terms indicated above

ITA 440/KOL/2023[2018-19]Status: DisposedITAT Kolkata25 Aug 2023AY 2018-19

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 440/Kol/2023 Assessment Year: 2018-19 Jai Salasar Balaji Industries (P) Ltd. Acit, Central Circle – 4(1), Kolkata 5, Bentinck Street Vs Kolkata - 700001 [Pan : Aaacj6970D] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri A.K. Tulsiyan, Fca Revenue By : Shri Subhendu Datta, Cit, D/R सुनवाई क" तारीख/Date Of Hearing : 20/06/2023 घोषणा क" तारीख /Date Of Pronouncement: 25/08/2023 आदेश/O R D E R Per Dr. Manish Borad: The Present Appeal Is Directed At The Instance Of The Assessee Against The Order Of The Learned Principal Commissioner Of Income Tax (Central), Kolkata -2, (Hereinafter The “Ld. Pr. Cit”) Dt. 28/03/2023, Passed U/S 263 Of The Income Tax Act, 1961 (“The Act”) For The Assessment Year 2018-19. 2. Brief Facts Of The Case Are That The Assessee Is A Private Limited Company Engaged In The Business Of Manufacturing & Trading Of Steel. E-Return Filed On 27/10/2018 Declaring Total Income At Nil For The Assessment Year 2018-19. Case Selected For Through Cass Followed By Issuance Of Notice U/S 143(2) & 142(1) Of The Act. Details Were Called For In Respect Of The Reason Of Scrutiny Selection. The Assessee Complied By Filing All The Relevant Details & The Same Were Duly Examined By The Assessing Officer & He Came To The Conclusion That The Assessee Was Entitled To The Claim Of Carry Forward Of Loss To 2

For Appellant: Shri A.K. Tulsiyan, FCAFor Respondent: Shri Subhendu Datta, CIT, D/R
Section 143(2)Section 143(3)Section 263

…| आयकर अपीलीय अिधकरण "यायपीठ, कोलकाता | IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, KOLKATA BEFORE DR. MANISH BORAD, HON’BLE ACCOUNTANT MEMBER & SHRI SONJOY SARMA, HON’BLE JUDICIAL MEMBER I.T.A. No. 440/Kol/2023 Assessment Year: 2018-19 Jai Salasar Balaji Industries (P) Ltd. ACIT, Central Circle – 4(1), Kolkata 5, Bentinck Street Vs Kolkata - 700001 [PAN : AAACJ6970D] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee by : Shri A.K. Tulsiyan, FCA Revenue by : Shri Subhendu Datta, CIT, D/R सुनवाई क" तारीख/Date of Hearing : 20/06/2023 घोषणा क" तारीख /Date of Pronouncement: 25/08/2023 आदेश/O R D E R PER DR. M…

Career Point Limited, Kota, Rajasthan vs. Principal Commissioner of Income Tax, Udaipur, Rajasthan

In the result, the appeal of the assessee is allowed

ITA 242/JPR/2023[2018-19]Status: DisposedITAT Jaipur22 Aug 2023AY 2018-19

Bench: HON’BLE SHRI SANDEEP GOSAIN, JM & HON’BLE SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri Vijay Goyal, CA &For Respondent: Shri Ajey Malik (CIT)
Section 143(2)Section 143(3)Section 14ASection 263

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”B” JAIPUR Jh lanhi xkslkbZ] U;kf;d lnL; ,oa Jh jkBkSM+ deys'k t;arHkkbZ] ys[kk lnL; ds le{k BEFORE: HON’BLE SHRI SANDEEP GOSAIN, JM & HON’BLE SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA No. 242/JP/2023 fu/kZkj.k o"kZ@Assessment Year : 2018-19. cuke Career Point Limited, The Principal Commissioner of Vs. 112-B, Shakti Nagar, Income-tax, Kota. Udaipur. LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No. AABCC 4963 A vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Shri Vijay Goyal, CA & Shri…

Gm International, Delhi vs. AO Ward-36(1), Delhi

In the result, the appeal of the assessee in ITA No

ITA 786/DEL/2022[2017-18]Status: DisposedITAT Delhi16 Aug 2023AY 2017-18

Bench: Shri N.K. Billaiya & Shri Yogesh Kumar U.S

For Appellant: Shri Salil Aggarwal, Sr. AdvFor Respondent: Shri T. James Singson CIT- DR
Section 142(1)Section 143(3)Section 263Section 263(1)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI ‘B’ BENCH, NEW DELHI BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER, AND SHRI YOGESH KUMAR U.S, JUDICIAL MEMBER ITA No. 786/DEL/2022 [A.Y 2017-18] G.M. International Vs. The Pr. C.I.T B – 212, New Fruit Market Delhi - 12 Azadpur, Delhi PAN : AANFG 8963 B (Applicant) (Respondent) Appellant by : Shri Salil Aggarwal, Sr. Adv Shri Mahir Aggarwal, Adv Shri Shailesh Gupta, CA Department By : Shri T. James Singson CIT- DR Date of Hearing : 09.08.2023 Date of Pronouncement : 16.08.2023 ORDER PER N.K. BILLAIYA, ACCOUNTANT MEMBER:- This appeal by the assessee is pre…